EIOPA · 3356
Reporting Templates
- Regulation
- (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
- Topic
- Reporting Templates
- Submitted
- 2025-05-27
- Answered
- 2025-11-07
Question
We would like to ask about presentation for movements in subordinated liabilities in the group form S.23.03.04 in the case where an insurance parent company acquires during the period a subsidiary insurance company which has in its portfolio subordinated bonds issued by an insurance parent company. In our opinion, the change during the year due to the acquisition of the subsidiary and subordinated bonds at the same time should be shown by the insurance group in the column C0080 - Redeemed. What will be the proper presentation in the next period in the case of the subsidiary selling subordinated bonds issued by the insurance parent company? In which column of the group form S.23.03.04 should the sale of these bonds outside the insurance group be shown?
Answer
On the basis of the description, EIOPA understands the situation as follows: an insurance company (IC1) has bought subordinated bonds, issued by another insurance company (IC2). Before the maturity of the bond the IC2 has acquired IC1. In such situation, EIOPA confirms that the subordinated bond issued by the IC 2, should be presented in the column C0080 as a redemption of the bond. When the bond is sold to a third party this should be treated for the presentation purpose as new bond issued and arise in the column C0070.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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